Nonprofit · EIN 95-4443057
NEW LIFE ECONOMIC DEVELOPMENT INC
Tax-exempt (reinstated) · LOS ANGELES, CA 90037
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $479,771 | $523,180 | -$43,409 | $1,165,744 | $499,759 | $665,985 |
| December 31, 2023 | 990 | $537,757 | $516,309 | $21,448 | $1,204,994 | $495,600 | $709,394 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $480,433
- Investment income
- $0
- Other revenue
- -$662
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $266,202
- Salaries, compensation and benefits (total)
- $329,537
- Professional fundraising fees
- $0
- Legal fees
- $2,000
- Accounting fees
- $9,200
- Occupancy
- $12,861
- Depreciation
- $860
- Program services (functional)
- $486,608
- Management and general (functional)
- $36,572
Balance sheet and other
- Total assets, start of year
- $1,204,994
- Total assets, end of year
- $1,165,744
- Total liabilities, end of year
- $499,759
- Net assets, end of year
- $665,985
- Land, buildings and equipment
- $645
- Net assets without donor restrictions
- $665,985
- Gross receipts
- $479,771
- Employees
- 7
- Volunteers
- 4
- Year formed
- 1993
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN W HEATH | BOARD PRESIDENT Trustee or director, Officer | 2 | $0 |
| FERRIS TRIMBLE | BOARD MEMBER Trustee or director | 2 | $0 |
| DAVID MACZ | BOARD MEMBER Trustee or director | 2 | $0 |
| CASSANDRA IVERSON | SECRETARY Trustee or director, Officer | 2 | $0 |
| QUENTIN STRODE | TREASURER Trustee or director, Officer | 2 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN W HEATH | BOARD PRESIDENT Trustee or director, Officer | 40 | $37,250 |
| FERRIS TRIMBLE | BOARD MEMBER Trustee or director | 2 | $0 |
| DAVID MACZ | BOARD MEMBER Trustee or director | 2 | $0 |
| CASSANDRA IVERSON | SECRETARY Trustee or director, Officer | 2 | $0 |
| QUENTIN STRODE | TREASURER Trustee or director, Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 5200 S BROADWAY OFC, LOS ANGELES, CA 90037-4507
- In care of
- % JOHN HEATH
- Principal officer (990 for 2024)
- JOHN W HEATH, 4859 WEST SLAUSON AVENUE 384, LOS ANGELES, CA 90056
- Signed the 990
- JOHN W HEATH, BOARD PRESIDENT
- Phone
- (323) 778-5433
- Website
- NEWLIFEEDC.ORG
- 990-N for 2011 filed under this EIN
- Most likely by a chapter, club or affiliate (it says receipts are normally $50,000 or less). Officer: Dr Aaron D Iverson, 5701 South Figueroa Street, Los Angeles CA 900374039. Mailing address: 5701 South Figueroa Street, Los Angeles CA 900374039. Website: www.newlifeedc.org
- Return prepared by
- GYL LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 95-4443057 or by the name NEW LIFE ECONOMIC DEVELOPMENT INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
PROVIDE AFFORDABLE HOUSING, ECONOMIC DEVELOPMENT AND RELATED SERVICES TO LOW AND MODERATE INCOME COMMUNITIES.
Program accomplishments
- NEW LIFE MANAGES LOW AND MODERATE INCOME MULTIFAMILY HOUSING PROPERTIES IN SOUTH LOS ANGELES, ENABLING US TO PROVIDE CRITICAL SOCIAL SERVICES INCLUDING SEMINARS ON HEALTH & WELLNESS, FINANCIAL LITERACY TRAINING, DEALING WITH DEPRESSION AND MENTAL ILLNESS, BULLYING, ELDER ABUSE AND VARIOUS OTHER COMMUNITY SERVICES, I.E., HELPING VULNERABLE RESIDENTS APPLY FOR AND OBTAIN HOUSING, LOW INCOME TRANSPORTATION OPTIONS AND UTILITY RATE ASSISTANCE, ATTEND COMMUNITY LUNCHEONS AND EDUCATIONAL FIELD TRIPS AND PROVIDE HIGH QUALITY AFFORDABLE HOUSING TO AN UNDERSERVED POPULATION OF SEVERAL HUNDRED LOW AND MODERATE INCOME SENIORS AND FAMILIES.Expenses $486,608 · revenue $479,771
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 95-4443057
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L21)
- Assets (IRS master file)
- $1,165,744
- Income (IRS master file)
- $479,771
Revocation and reinstatement
- Exemption revoked
- May 15, 2018
- Posted by the IRS
- February 12, 2019
- Reinstated
- Effective May 15, 2018
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $479,771 | $523,180 | $1,165,744 | XML |
| 990 | December 2023 | $537,757 | $516,309 | $1,204,994 | XML |
| 990 | December 2022 | $533,243 | $621,791 | $1,161,821 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-N for 2011 Officer: Dr Aaron D Iverson Filed under this EIN, most likely by a chapter or affiliate | December 31, 2011 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 95-4443057).
Questions about NEW LIFE ECONOMIC DEVELOPMENT INC
- What is the EIN of NEW LIFE ECONOMIC DEVELOPMENT INC?
- The employer identification number (EIN) of NEW LIFE ECONOMIC DEVELOPMENT INC is 95-4443057.
- Is NEW LIFE ECONOMIC DEVELOPMENT INC tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2018 and reinstated it effective May 15, 2018.
- Are donations to NEW LIFE ECONOMIC DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW LIFE ECONOMIC DEVELOPMENT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW LIFE ECONOMIC DEVELOPMENT INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW LIFE ECONOMIC DEVELOPMENT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW LIFE ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 names JOHN W HEATH.
- Who are the officers and directors of NEW LIFE ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does NEW LIFE ECONOMIC DEVELOPMENT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $479,771, expenses of $523,180 and total assets of $1,165,744 at year end.
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